Student loans, car payments, credit cards, and other forms of debt can grow to exorbitantly large balances, not be paid on time, and otherwise ruin one’s credit score. No matter how low your credit score, short your credit history, or poor your ability the pay accounts back in full, here are several tips everybody can use to beef up their credit ratings.
While not everybody is fortunate enough to have someone cosign on financing agreements, those that areare subject to higher credit ratings. Credit bureaus feel safe about consumers who have friends or family members willing to take over their debts in the event of default.
Secured credit cards can help, as well. These lines of credit function by forking over an amount of money as collateral equal to that of its maximum balance. You won’t be able to default, plus you’ll be more inclined to make even on outstanding balances.
Look into financing a vehicle, but only if you’re in need of a new vehicle and have enough consistent cash flow to cover biweekly or monthly payments. Defaulting on auto loans will result in repossession, not to mention a ruined credit rating.
Never, ever, ever max credit cards out While sometimes it’s not feasible to push through financial emergencies without relying on the crutches of debt, don’t assume doing so is a good idea if you’re going through tough times.
Although some people are disciplined enough to take care of debt themselves, others need the help of debt negotiation companies like Freedom Debt Relief. Even if their ads don’t come to mind, they have run commercials on networks shown around the country. Freedom Debt Relief has been around since 2002, as well as their ads, showing their success over the years. Freedom Debt Relief has helped tens of thousands of clients pay a fraction of what was originally owed.
Freedom Debt Relief Facebook Page: www.facebook.com/FreedomDebtRelief